Deutsche Bank Aktiengesellschaft Lowers ING Groep (NYSE:ING) to Hold

ING Groep (NYSE:ING - Get Free Report) was downgraded by research analysts at Deutsche Bank Aktiengesellschaft from a "buy" rating to a "hold" rating in a report released on Wednesday, MarketBeat.com reports.

ING Groep Stock Performance

Shares of NYSE ING traded down $0.53 during trading on Wednesday, reaching $17.11. 1,345,444 shares of the stock traded hands, compared to its average volume of 2,374,051. ING Groep has a 52-week low of $12.44 and a 52-week high of $18.72. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.95 and a quick ratio of 1.12. The company has a 50-day moving average of $17.72 and a 200-day moving average of $17.40. The stock has a market capitalization of $59.85 billion, a P/E ratio of 7.57 and a beta of 1.52.

ING Groep (NYSE:ING - Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The financial services provider reported $0.58 EPS for the quarter. ING Groep had a return on equity of 12.65% and a net margin of 30.60%. The firm had revenue of $6.15 billion for the quarter. During the same period in the prior year, the company earned $0.65 EPS. Analysts forecast that ING Groep will post 2.04 EPS for the current fiscal year.

Institutional Trading of ING Groep

A number of institutional investors have recently added to or reduced their stakes in ING. Fisher Asset Management LLC lifted its holdings in ING Groep by 8.5% during the 4th quarter. Fisher Asset Management LLC now owns 63,677,437 shares of the financial services provider's stock worth $956,435,000 after purchasing an additional 4,995,615 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of ING Groep by 7.8% in the 4th quarter. Goldman Sachs Group Inc. now owns 8,568,136 shares of the financial services provider's stock valued at $128,693,000 after acquiring an additional 622,037 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of ING Groep by 150.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 599,012 shares of the financial services provider's stock valued at $10,267,000 after acquiring an additional 359,535 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of ING Groep in the 2nd quarter valued at about $4,626,000. Finally, Teachers Retirement System of The State of Kentucky raised its holdings in shares of ING Groep by 17.9% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 1,695,710 shares of the financial services provider's stock valued at $27,962,000 after acquiring an additional 257,440 shares in the last quarter. Hedge funds and other institutional investors own 4.49% of the company's stock.

ING Groep Company Profile

ING Groep N.V. provides various banking products and services in the Netherlands, Belgium, Germany, rest of Europe, and internationally. It operates through five segments: Retail Netherlands, Retail Belgium, Retail Germany, Retail Other, and Wholesale Banking. The company accepts current and savings accounts.